Chevron to pay $900,000 in oil spill settlement (Maine)

[Maine-ah]

Source: BDN

HAMPDEN, Maine — Gov. Paul LePage joined many state and local leaders Friday in Hampden to announce a fine of $900,000 against Chevron Corp. It is Maine’s largest environment settlement in 20 years.

The fine attempts to remedy 40 years worth of oil leaks — estimated at 140,000 gallons — into the Penobscot River by putting that money toward conservation projects in the area. A portion of the settlement will fund an 8.5-acre riverfront park with trails, boat and kayak access and a parking area near Turtle Head Marina.

Chevron owned the oil tank farm in Hampden, just across the Bangor line, from 1950 to 1986. The state first learned of the oil leaks in the mid-1980s.

A Chevron spokesman said this week that the oil company agreed to the settlement to avoid a protracted legal fight but he said Chevron is not accepting responsibility.

Read more: http://bangordailynews.com/2011/07/15/business/chevron-to-pay-900k-in-oil-spill-settlement/

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and of course, as per SOP in these cases they didn't have to admit any responsibility

[Downwinder]

1. A lot easier for Maine to collect than Ecuador.

[Divernan]

2. Chevron's 4th quarter, 2010 profits $5.3 BILLION, up 72%, in ONE quarter

http://www.reuters.com/article/2011/01/28/us-chevron-idUSTRE70R37320110128
- Chevron Corp's 72 percent rise in quarterly profit easily beat Wall Street forecasts.
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http://www.mlive.com/opinion/kalamazoo/index.ssf/2011/07/viewpoint_we_live_in_an_age_wh.html

"4.) Chevron received a $19 million refund from the IRS last year(2010) after it made $10 billion in profits in 2009. (Source: See the 2009 Chevron annual report.)"
_______________________________________________________________________________________________________________

Chevron said Friday its (2010) fourth-quarter profit increased to $5.3 billion, or $2.64 a share, from $3.1 billion, or $1.53 a share, in the year-ago period.

Read more: http://www.foxbusiness.com/markets/2011/01/28/chevron-profit-jumps-beating-target/#ixzz1SC1OUCGk

[Maine-ah]

3. heh, 900k

is mere pocket change.

[Divernan]

4. That was my point.

[fascisthunter]

5. in other words, the crime was profitable

the fine is chump change. Once again, we see injustice being practiced in our so-called justice system.

[Proletariatprincess]

6. Is this a joke?

40 years of oil leaks cost Chevron only 900k? That is not enough incentive to stop the spills...it is just the cost of doing business and to hell with the enviroment.
Ahh...but we knew that didn't we? I guess we should be grateful that chevron was fined at all.:shrug:

[dipsydoodle]

7. Buttons

:(

[valerief]

8. Oh, that means no fuel for corporate jets for a month! nt

[No Elephants]

9. Forty years, most of them after the state knew of the leaks (and presumably told Chevron to stop

them and ONLY $900K?

Yeah, yeah, I know. Blah, job creation, blah.

[Scuba]

10. $6.50 per gallon....

...terrible deal for the State of Maine.